Political pressures have driven the lira to fresh lows

ISTANBUL—Turkey’s central bank meeting on Tuesday is being widely watched as mounting political pressures push the lira to fresh lows and markets await Governor Erdem Basci’s switch to more orthodox monetary policies.

At 2 p.m. in Ankara on Tuesday, Mr. Basci and his team will unveil whether they will start a gradual shift to a single interest rate policy or continue with the current unorthodox mix of multiple rates.